Mortgage innovation and strategy: David Bernard on specialized mortgage services at Western Alliance Bank 

In an industry with market volatility, regulatory changes and fast-paced technological innovation, lenders need a competitive edge. Allison LaForgia sits down with David Bernard to discuss how Western Alliance Bank’s Specialized Mortgage Services group combines innovation with a relationship-driven strategy to redefine the mortgage experience. 

The conversation also explores the lessons Western Alliance Bank has learned from recent industry shifts and how collaboration with AmeriHome Mortgage creates new opportunities for clients. Looking ahead to 2026, David shares why he’s optimistic about the future of mortgage lending and how Western Alliance is positioning itself to lead the next cycle with technology, relationships, and operational excellence. 

“Our bank started mortgage warehouse lending in 2009,” he said. “I joined at the end of 2013 as we were growing that platform… Steve Curley and I grew that together.”

Bernard stressed the bank’s commercial DNA and flat culture. “We’re a $90 billion bank today,” he noted, up from ~$10B in 2013. “We didn’t intend on being all things to everyone. Our group’s price is competitive, but I wouldn’t call us a price leader. I would call us a leader in listening, being creative, following through and forming long-term strategic partnerships.”

That mindset shaped the group’s broader toolkit. “Beyond traditional warehouse lending… MSR financing… note financing,” he said. “We weren’t trying to be all things to everyone; we were trying to have a full palette of products and services we could grow with our business partners.”

Culture is the differentiator. “It feels like ’70s community banking,” Bernard said. “Our customers still talk to our C-suite. If we’re doing our job, they know our credit group, operations, funders, collateral, and treasury.” The playbook is simple: “Listening, coming up with strategic plans and following through.” And when a request doesn’t fit? “We give a quick ‘no’ so clients can find the right solution.”

Despite volatility, 2025 was a standout. “Through the first three quarters, we’ve had more funding growth than 2021… with fewer customers,” Bernard said. The reason: breadth and readiness. “We started funding non-QM in 2013. We fund seconds/HELOCs for the right customers… construction, bridge, early buyouts, cash buyers. As rates rose and product sets broadened, we were already doing that.”

He highlighted synergies with AmeriHome: “They were one of our largest clients before the acquisition. The cultural fit was there. They launched non-QM and will add HELOCs and ARMs—we fund those. Common customers can use warehouse leverage to sell loans more efficiently, with economic and advance-rate benefits, and loans get purchased quicker.”

What truly sets the bank apart, Bernard said, is being invited into strategy. “The biggest compliment is when a client says, ‘We’re expanding products/markets or raising capital—be part of our think tank.’ Then you’re part of their franchise value.” His team is built to respond: “Warehouse, MSR financing, a treasury team in our business line, large custodial/escrow, core operating accounts, corporate card, and modern treasury tech—payment rails and efficiencies we build with clients.”

Looking to 2026, Bernard is cautiously optimistic. “The new normal is now. I agree with a low-6s rate environment. More ARMs, tapping untouched equity via HELOCs and cash-out, and an MBA forecast around $2.2T,” he said. After hard lessons since 2022, “IMBs have optimized for profitability and can grow from here.”

He summarized, “We never set out to be everything to everyone. We set out to listen, structure, and deliver—and be the partner that shows up in good times and bad.”